Avid's $1.3M Deal With Investors Over Stock Drop Gets OK

Law360, New York (January 16, 2018, 4:39 PM EST) -- A Massachusetts federal judge on Friday preliminarily approved Avid Technology Inc.’s $1.3 million settlement resolving a securities fraud class action over the rollout of one of its products after both sides in the suit agreed to tweak the deal in response to concerns from the judge.

Under the revised deal, potential investor class members can opt out without having to disclose the price they paid for their shares in the Burlington, Massachusetts-based Avid, which makes nonlinear editing systems and other multimedia products that are widely used...

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